Post
Topic
Board Altcoin Discussion
Re: 💥 List of ongoing Mining-ICOs - get your first important information here 💥
by
Litecoindigger
on 17/08/2018, 14:33:06 UTC
These are Cloud Mining companies, right?
Nope, these are not Cloudminers as their business model is different:

They offer tokens instead of limited cloudmining contracts. The tokens are used to get your profits from mining and if you hold the tokens in your Erc20 wallet the profits will be paid out to this wallet depending on the number of tokens you have there. More token = more profits.
The time you hold your tokens is not limited compared to cloudmining contracts, it's a lifetime profit as long as you hold your tokens you'll receive profits. The token Mining Companies will use a part of the mining profits to buy new miners and increase the hashpower of the farm to compete the incereasing difficulty.

A good thing is also that you can sell your mining tokens later if you want (but when you do this, you'll stop getting dividends from mining because the buyer of your token will receive payouts now). So these mining tokens are like ETH, but you'll receive profits from mining in your wallet.

why several miners are not complaining and only the cloud mining are complaining of not having profits because of the fall in prices?
Because most cloudminers are not transparent. I don't know the price of power per kwh and they don't share it to get enough profits for themselves. That's not transparent, therefore I'm only investing in token mining, they are transparent and you can ask them in the Bitcointalk announcement about power cost.


Why does every cloud mining site only show the equipment and does not show the outside of where the equipment is? Is it because this mining activity is illegal in some countries? I have not yet seen a cloud mining company show any license
I think security reasons. There was one case in Iceland where a robbery was done and miners were stolen. But I unterstand this point of hiding the place. Pictures or videos from inside the farm are enough for me if they are detailed.